Reading the profile of the ‘fabulous saver’ corporate accountant is a reminder to me why I harbor an inherent (but admittedly unresearched) distrust for the financial advising profession.

This woman and her husband are in their late 20’s and already have $100K in their retirement savings with no plan to slow down those contributions anytime soon and still the financial advisor recommends that she look into buying life insurance.

Why? How would life insurance benefit her current situation? With no dependents and (I assume) and agreement that the surviving spouse would assume sole ownership of the savings accounts, what value would a life insurance policy add to the equation? Work interruption policies I could understand (e.g., AFLAC), but life insurance? Let me guess…Prudential offers a full suite of insurance policies and would be happy to point her towards something that would suit her needs…

Remember, fee only advisors, people. Everyone else is out to sell you something you don’t need!